RadioShack Profit is Down
RadioShack said Monday that it posted a profit in the third quarter of $37.4 million, a drop from the $49.1 million figure from the same time the year before. Sales also dropped three percent to $990.0 million.
The results, however, were ahead of Wall Street expectations, and sent the company's stock upward, Reuters reported.
It was an eventful quarter for RadioShack, as the chain announced a rebranding as "The Shack," and also added T-Mobile phones to its roster of products.